UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(Rule 13d-102)
Information Statement Pursuant to Rules 13d-1 and 13d-2
Under the Securities Exchange Act of 1934*
Platinum Entertainment, Inc.
(Name of Issuer)
Common Stock, par value $.001 per share
(Title of Class of Securities)
727909-10-3
(CUSIP Number)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act(however, see the Notes).
SCHEDULE 13G
CUSIP No. 727909-10-3 Page 2 of 7 Pages
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Andrew J. Filipowski
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) _
Not Applicable (b) _
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
5 SOLE VOTING POWER
472,200(a)
6 SHARED VOTING POWER
492,777(b)
7 SOLE DISPOSITIVE POWER
472,200(a)
8 SHARED DISPOSITIVE POWER
492,777(b)
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
964,977(a)(c)
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* _
No
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
14.5%
12 TYPE OF REPORTING PERSON*
IN
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(a) Includes 24,000 shares which Mr. Filipowski has the right to acquire
pursuant to the exercise of vested stock options held by Mr. Filipowski.
(b) Includes 99,067 owned by Platinum Venture Partners I, L.P. ("PVP I"). Mr.
Filipowski is the President, Chief Executive Officer and a shareholder of
the general partner of PVP I and in such capacities may be deemed to have
voting and investment power with respect to shares held by PVP I. Mr.
Filipowski disclaims beneficial ownership of such shares.
(c) Includes 56,250 shares which Mr. Filipowski has the right to purchase
pursuant to the exercise of a warrant to purchase Common Stock held in the
name of Platinum Venture Partners II, L.P. ("PVPII"). Mr. Filipowski is the
President, Chief Executive Officer and a shareholder of the general partner
of PVP II and in such capacities may be deemed to have voting and investment
power with respect to shares held by PVP II.
(d) Includes 337,500 shares which PVP II has the right to purchase pursuant to
the exercise of a warrant to purchase Common Stock. Mr. Filipowski is the
President, Chief Executive Officer and a shareholder of the general partner
of PVP II and in such capacities may be deemed to have voting and investment
power with respect to shares held by PVP II. Mr. Filipowski disclaims
beneficial ownership of such shares.
(e) Includes 99,067 shares owned by PVP I.
(f) Includes 393,750 shares held by PVP II.
SEC 1745(2-95) Page 3 of 7
Item 1(a) Name of Issuer:
Platinum Entertainment, Inc.
Item 1(b) Address of Issuer's Principal Executive Offices:
2001 Butterfield Road
Downers Grove, Illinois 60515
Item 2(a) Name of Person Filing:
Andrew J. Filipowski
Item 2(b) Address of Principal Business Office or, if None, Residence:
1815 South Meyers Road
Oakbrook Terrace, IL 60181
Item 2(c) Citizenship:
United States
Item 2(d) Title of Class of Securities:
Common Stock, par value $.001 per share
Item 2(e) CUSIP Number:
727909-10-3
Item 3. Type of Person:
Not Applicable
SEC 1745(2-95) Page 4 of 7
Item 4. Ownership:
(a) Amount Beneficially Owned:
964,977 (1)(3)
(b) Percent of Class:
14.5% (1)
(c) Number of shares as to which person has:
(i) Sole power to vote or to direct the vote:
472,200 (1)
(ii) Shared power to vote or to direct the
vote: 492,777 (2)
(iii) Sole power to dispose or to direct the
disposition of: 472,200 (1)
(iv) Shared power to dispose or to direct the
disposition of: 492,777 (2)
_________________
(1) Includes 24,000 shares which Mr. Filipowski has the right to acquire
pursuant to the exercise of vested stock options held by Mr. Filipowski.
(2) Includes 99,067 owned by Platinum Venture Partners I, L.P. ("PVP I").
Mr. Filipowski is the President, Chief Executive Officer and a shareholder
of the general partner of PVP I and in such capacities may be deemed to
have voting and investment power with respect to shares held by PVPI. Mr.
Filipowski disclaims beneficial ownership of such shares.
(3) Includes 56,250 shares which Mr. Filipowski has the right to purchase
pursuant to the exercise of a warrant to purchase Common Stock held in the
name of Platinum Venture Partners II, L.P. ("PVPII"). Mr. Filipowski is
the President, Chief Executive Officer and a shareholder of the general
partner of PVP II and in such capacities may be deemed to have voting and
investment power with respect to shares held by PVP II.
(4) Includes 337,500 shares which PVP II has the right to purchase pursuant to
the exercise of a warrant to purchase Common Stock. Mr. Filipowski is the
President, Chief Executive Officer and a shareholder of the general partner
of PVP II and in such capacities may be deemed to have voting and
investment power with respect to shares held by PVP II. Mr. Filipowski
disclaims beneficial ownership of such shares.
SEC 1745(2-95) Page 5 of 7
Item 5. Ownership of Five Percent or less of a Class:
Not Applicable
Item 6. Ownership of More than Five Percent on Behalf of
Another Person:
Not Applicable
Item 7. Identification and Classification of the Subsidiary
Which Acquired the Security Being Reported on By
the Parent Holding Company:
Not Applicable
Item 8. Identification and Classification of Members of the
Group:
Not Applicable
Item 9. Notice of Dissolution of Group:
Not Applicable
Item 10. Certification:
Not Applicable
SEC 1745(2-95) Page 6 of 7
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date: February 16, 1999
/s/ ANDREW J. FILIPOWSKI
Andrew J. Filipowski
SEC 1745(2-95) Page 7 of 7
